The index measures both Americans’ assessment of current economic conditions and their outlook for the next six months.
WASHINGTON — American consumers are feeling less confident this month as concerns about jobs rose significantly.
The Conference Board, a business research group, said Tuesday that its consumer confidence index fell to 98.7 in September, from 105.6 in August. It was the biggest month-to-month decline since August of 2021.
The consumer confidence index measures both Americans’ assessment of current economic conditions and their outlook for the next six months.
The measure of Americans’ short-term expectations for income, business and the job market fell to 81.7 from 86.3 in July. A reading under 80 can signal a potential recession in the near future.
“Consumers’ assessments of current business conditions turned negative while views of the current labor market situation softened further,” said Dana Peterson, the Conference Board’s chief economist. Consumers were also more pessimistic about future labor market …